PR
Taihan Decides to Invest USD 360 million in HVDC Submarine Cable Plant Construction… Growth Accelerates
- Submarine cable plant 2 to break ground within the Year, with full-scale operation aimed for 2027
- In preparation for expanding global HVDC submarine cable demand and the offshore wind power market
- VCV tower to be established…Full-scale preparation for the ‘West Coast Energy Highway’
- Vice Chairman: “We will lead the global submarine cable market with our turnkey competitiveness.”
Taihan launches large-scale investment to strengthen HVDC submarine cable competitiveness and secure growth drivers.
On the 16th, Taihan announced in a regulatory filing that its board of directors has approved an investment of approximately 360 million USD (497.2 billion KRW) for the first phase of construction of the Dangjin submarine cable plant 2 (hereafter 'submarine cable plant 2'), which will be capable of producing HVDC submarine cables.
This large-scale investment is aimed at expanding the company’s production infrastructure to meet rising global and domestic demand for submarine cables, the growth of the offshore wind power market, and participation in the accelerating “West Coast Energy Highway” project. The investment period is scheduled through December 2027.
Following the investment decision, Taihan plans to break ground on submarine cable plant 2 within the year. The first phase of the new plant will be a dedicated facility capable of producing 640kV-class HVDC (High Voltage Direct Current) and 400kV-class HVAC (High Voltage Alternating Current) submarine cables. It will be equipped with cutting-edge technologies, including a VCV (Vertical Continuous Vulcanization) system — a core facility for manufacturing extra-high-voltage cables. The first phase of the plant is targeted to begin operation in 2027. A second phase of investment to further expand production capacity will be strategically pursued based on future market conditions.
The site for Taihan submarine cable plant 2 is located in the Godae District of the Asan National Industrial Complex in Dangjin, Chungcheongnam-do, adjacent to the company’s existing submarine plant 1. The site spans approximately 215,000 square meters — equivalent to about 30 soccer fields. Once operational, the new plant is expected to deliver production capacity nearly five times greater than that of submarine cable plant 1. With this expansion, all of Taihan’s domestic production infrastructure — including the cable plant, solution plant, and both submarine cable plants 1 and 2 — will be concentrated in Dangjin, creating strong human and logistical synergies.
Vice Chairman Song Jong-min stated, “By moving forward with the construction of submarine cable plant 2, we are not only responding to the growing demand for HVDC submarine cables, but also positioning ourselves to actively participate in the expanding ‘West Coast Energy Highway’ project.” He added, “With our turnkey competitiveness in submarine cables, we aim to lead the global market, strengthen national competitiveness, and contribute to energy security.”
This investment is driven by the growing global demand for submarine cables. The submarine cable market, valued at approximately USD 4.3 billion in 2022, is projected to expand to around USD 20 billion by 2029. In particular, the global HVDC submarine cable segment is experiencing rapid growth, fueled by the development of supergrids — cross-border power transmission networks — and the large-scale expansion of offshore wind power generation.
To respond to this growing demand, Taihan is steadily expanding its production capacity in phases. The company has also secured PALOS, Korea’s only CLV (Cable Laying Vessel), enabling it to manage the entire submarine cable value chain — from design and manufacturing to transportation, installation, and maintenance. As only a handful of companies worldwide possess full turnkey capabilities in the submarine cable sector, Taihan is well-positioned to secure a wide range of business opportunities in the years ahead.
